Metropolitan Life Insurance Co. NY reduced its stake in Huntington Ingalls Industries Inc (NYSE:HII) by 66.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 14,698 shares of the aerospace company’s stock after selling 29,697 shares during the quarter. Metropolitan Life Insurance Co. NY’s holdings in Huntington Ingalls Industries were worth $3,464,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Cerebellum GP LLC bought a new position in Huntington Ingalls Industries in the 4th quarter valued at $100,000. Welch Group LLC bought a new position in Huntington Ingalls Industries in the 4th quarter valued at $101,000. HL Financial Services LLC bought a new position in Huntington Ingalls Industries in the 4th quarter valued at $212,000. CAPROCK Group Inc. bought a new position in Huntington Ingalls Industries in the 4th quarter valued at $218,000. Finally, Quadrature Capital Ltd bought a new position in Huntington Ingalls Industries in the 4th quarter valued at $225,000. 84.13% of the stock is owned by institutional investors and hedge funds.
HII stock opened at $256.52 on Wednesday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.45 and a current ratio of 1.58. The firm has a market capitalization of $11,375.59, a price-to-earnings ratio of 24.55, a PEG ratio of 0.97 and a beta of 1.01. Huntington Ingalls Industries Inc has a 12 month low of $183.42 and a 12 month high of $276.69.
Huntington Ingalls Industries (NYSE:HII) last posted its quarterly earnings results on Thursday, February 15th. The aerospace company reported $3.11 earnings per share for the quarter, topping the consensus estimate of $2.93 by $0.18. The company had revenue of $2 billion during the quarter, compared to the consensus estimate of $1.94 billion. Huntington Ingalls Industries had a return on equity of 31.01% and a net margin of 6.44%. The firm’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.20 EPS. research analysts forecast that Huntington Ingalls Industries Inc will post 17.38 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, March 9th. Stockholders of record on Friday, February 23rd were paid a dividend of $0.72 per share. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $2.88 annualized dividend and a dividend yield of 1.12%. Huntington Ingalls Industries’s payout ratio is 27.56%.
A number of research analysts have issued reports on HII shares. ValuEngine upgraded Huntington Ingalls Industries from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Zacks Investment Research downgraded Huntington Ingalls Industries from a “buy” rating to a “hold” rating in a research note on Tuesday, January 9th. Cowen upgraded Huntington Ingalls Industries from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $252.00 to $275.00 in a research note on Thursday, February 1st. Credit Suisse Group upgraded Huntington Ingalls Industries from a “neutral” rating to an “outperform” rating and set a $241.00 price objective for the company in a research note on Friday, February 16th. Finally, Bank of America set a $335.00 price objective on Huntington Ingalls Industries and gave the company a “buy” rating in a research note on Friday, February 16th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $261.38.
In other news, Director Philip M. Bilden purchased 1,000 shares of the business’s stock in a transaction dated Monday, March 5th. The stock was bought at an average price of $254.50 per share, for a total transaction of $254,500.00. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP William R. Ermatinger sold 1,689 shares of the stock in a transaction on Thursday, March 8th. The stock was sold at an average price of $259.34, for a total value of $438,025.26. The disclosure for this sale can be found here. In the last quarter, insiders have bought 6,800 shares of company stock valued at $1,794,184 and have sold 12,979 shares valued at $3,381,250. 2.22% of the stock is currently owned by corporate insiders.
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About Huntington Ingalls Industries
Huntington Ingalls Industries, Inc is a military shipbuilding company and a provider of professional services to partners in government and industry. The Company’s business consists of the design, construction, repair and maintenance of nuclear-powered ships and non-nuclear ships for the United States Navy and coastal defense surface ships for the United States Coast Guard, as well as the refueling and overhaul and inactivation of nuclear-powered ships for the United States Navy.
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